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US Dollar Index Classical Technical Report 05.08

US Dollar Index Classical Technical Report 05.08

2012-05-08 05:54:00
Joel Kruger, Technical Strategist
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daily_classical_dxy_body_dxy.png, US Dollar Index Classical Technical Report 05.08

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader recovery structure out from a major base in 2011 and therefore recommend looking to buy on dips in favor of an eventual break above 10,100.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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